Minnesota Rental Agreement Templates
Minnesota lease agreements are contracts between a landlord and tenant for the renting of commercial or residential property. Both parties are bound to the agreement until the end of its term or until either party terminates (if allowed). The landlord is advised to conduct a thorough screening of a tenant before signing a lease to verify their creditworthiness.
Minnesota Residential Lease Agreement
The Minnesota residential lease agreement (“rental agreement”) is a binding agreement that allows a tenant to occupy a landlord’s property for a designated period of time in exchange for rent. When authorizing a lease agreement, the landlord should first check the tenant’s credit, background, and rental history.
Minnesota Month-to-Month Rental Agreement
A Minnesota month-to-month rental agreement, otherwise known as a “Tenancy at Will”, is a lease agreement that may be altered or canceled with three (3) months’ notice or the entire rental period to date, whichever is lesser. The agreement is popular among short term renters as they may be able to stay as long as they would like and when they decide to move out it can be easily done with written notice to the landlord. A month to month is sometimes created after a tenant has been on the premises for a one (1) year period and decides not to renew for another fixed term.
Minnesota Rental Application Form
The Minnesota rental application form is part of the application process that landlords use to determine the best tenant to rent or lease their property. This form must be compliant with the Federal Fair Housing Act, and the prospective tenant must usually pay an application fee.
Minnesota Roommate Agreement
A Mississippi roommate agreement gives prospective roommates the option of safely entering a living arrangement with each other. The security will originate from having a written agreement signed by all the roommates who have decided to agree to it. Each roommate should make sure they have reviewed the document thoroughly before providing a signature as the act of signing will bind them to terms listed on this contract form.
That being said there will be quite a few subjects to be covered in this document. At the core of it will be the basic transaction of trading money for the right to maintain the domicile for a predetermined amount of time. Additionally, will be the subject matter that would be considered intrinsic to day-to-day living. A good example would be a Med Student rooming with a retired couple, a post-grad student, and a retail employee. Each will naturally have their own concerns and the agreement may call for different portions for different utilities. With such a diverse group, it would be in everyone’s interests to have the terms and conditions clearly documented.
Minnesota Commercial Lease Agreement
A Minnesota commercial lease agreement is for any entity or individual that would like to rent space (retail, office, or industrial) for business use. Rent can be decided by the property owner/landlord, however, it is often set on a price per square foot ($/SF) basis as every tenant usually requires a different fit up and custom layout. Due to the costs incurred by the landlord with creating the space, the lease term will often be more than one (1) year and, more commonly, three (3) to five (5) years. There are usually annual escalations that are negotiated or based on CPI (Consumer Price Index) to match consumer goods purchased by households. It is highly recommended that, if the business is new or just starting, the landlord should obtain a personal guaranty to make sure that if the business fails, the individual is still liable to make payments every month.
Financial Distress (§ 504B.151) – If the landlord’s property is being foreclosed upon or a deed of cancellation has been issued a tenant may not legally sign for more than a two (2) month period.
Landlord/Manager Information (§ 504B.181) – In the lease agreement, the landlord must disclose the manager authorized to act on the premises along with an address for notices.
Lead-Based Paint Disclosure – This disclosure form is required by federal law for all tenants moving-in to properties that were constructed before 1978.
Outstanding Inspection Orders (§ 504B.195) – If the premises has any outstanding inspection orders due to a property’s code infraction it must be relayed to the tenant.
Minnesota Security Deposits
Maximum – No limit.
Returning (§ 504B.211) – Within three (3) weeks of the termination of tenancy.